Brookstone Capital Management Has $1.23 Million Position in SpartanNash (NASDAQ:SPTN)

Brookstone Capital Management grew its position in SpartanNash (NASDAQ:SPTNGet Rating) by 87.1% during the 2nd quarter, Holdings Channel reports. The firm owned 40,333 shares of the company’s stock after purchasing an additional 18,775 shares during the quarter. Brookstone Capital Management’s holdings in SpartanNash were worth $1,230,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SPTN. Bank of America Corp DE raised its holdings in SpartanNash by 8.8% during the 4th quarter. Bank of America Corp DE now owns 80,337 shares of the company’s stock worth $2,068,000 after purchasing an additional 6,473 shares during the last quarter. Citigroup Inc. raised its holdings in SpartanNash by 37.1% during the 4th quarter. Citigroup Inc. now owns 34,469 shares of the company’s stock worth $888,000 after purchasing an additional 9,328 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in SpartanNash during the 4th quarter worth about $321,000. Bank of Montreal Can raised its holdings in SpartanNash by 21.1% during the 4th quarter. Bank of Montreal Can now owns 30,683 shares of the company’s stock worth $801,000 after purchasing an additional 5,346 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in SpartanNash by 1.1% during the 4th quarter. Renaissance Technologies LLC now owns 996,812 shares of the company’s stock worth $25,678,000 after purchasing an additional 11,200 shares during the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.

Insiders Place Their Bets

In other news, Director Hawthorne L. Proctor sold 4,500 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $31.27, for a total value of $140,715.00. Following the completion of the sale, the director now owns 30,708 shares of the company’s stock, valued at approximately $960,239.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.80% of the company’s stock.

SpartanNash Price Performance

Shares of SPTN opened at $30.25 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.59. The stock has a 50 day simple moving average of $31.34 and a 200 day simple moving average of $32.28. SpartanNash has a 52-week low of $20.46 and a 52-week high of $37.48. The firm has a market capitalization of $1.08 billion, a PE ratio of 17.69 and a beta of 0.68.

SpartanNash (NASDAQ:SPTNGet Rating) last released its quarterly earnings results on Thursday, August 18th. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.08. SpartanNash had a return on equity of 9.71% and a net margin of 0.67%. The firm had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the firm posted $0.54 EPS. The business’s revenue was up 7.9% on a year-over-year basis. Sell-side analysts predict that SpartanNash will post 2.27 EPS for the current fiscal year.

SpartanNash Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Wednesday, September 14th. SpartanNash’s dividend payout ratio (DPR) is currently 49.12%.

Analysts Set New Price Targets

A number of analysts have recently commented on SPTN shares. Deutsche Bank Aktiengesellschaft upped their price target on SpartanNash from $26.00 to $36.00 and gave the company a “hold” rating in a research note on Tuesday, September 6th. StockNews.com raised SpartanNash from a “hold” rating to a “buy” rating in a research note on Sunday, June 19th. Finally, BMO Capital Markets upped their price target on SpartanNash from $29.00 to $31.00 and gave the company a “market perform” rating in a research note on Friday, August 19th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $27.83.

SpartanNash Profile

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SpartanNash Company distributes and retails grocery products. It operates in three segments: Food Distribution, Military, and Retail. The Food Distribution segment offers approximately 65,000 stock-keeping units, such as dry groceries, produce, dairy products, meat, delicatessen items, bakery goods, frozen food, seafood, floral products, general merchandise, beverages, tobacco products, health and beauty care, and pharmacy products to independent retailers, national retailers, food service distributors, e-commerce providers, and corporate owned retail stores.

Further Reading

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Institutional Ownership by Quarter for SpartanNash (NASDAQ:SPTN)

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